Susquehanna Fundamental Investments LLC Invests $2.30 Million in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Susquehanna Fundamental Investments LLC bought a new position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 202,552 shares of the company’s stock, valued at approximately $2,299,000.

Other large investors also recently modified their holdings of the company. Tidal Investments LLC grew its holdings in shares of Goodyear Tire & Rubber by 41.6% during the 1st quarter. Tidal Investments LLC now owns 63,967 shares of the company’s stock worth $878,000 after purchasing an additional 18,790 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Goodyear Tire & Rubber by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 2,715,149 shares of the company’s stock valued at $30,817,000 after buying an additional 71,410 shares in the last quarter. National Bank of Canada FI boosted its stake in Goodyear Tire & Rubber by 2,944.7% in the first quarter. National Bank of Canada FI now owns 1,666,708 shares of the company’s stock valued at $21,600,000 after buying an additional 1,611,966 shares in the last quarter. Edgestream Partners L.P. boosted its stake in Goodyear Tire & Rubber by 1,011.8% in the second quarter. Edgestream Partners L.P. now owns 634,077 shares of the company’s stock valued at $7,197,000 after buying an additional 577,045 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in Goodyear Tire & Rubber by 132.2% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 224,158 shares of the company’s stock valued at $3,077,000 after buying an additional 127,610 shares in the last quarter. 84.19% of the stock is owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Price Performance

Shares of NASDAQ:GT opened at $8.85 on Tuesday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 1.06. The Goodyear Tire & Rubber Company has a 52 week low of $7.27 and a 52 week high of $15.24. The firm has a market cap of $2.52 billion, a PE ratio of -3.92 and a beta of 1.70. The firm’s fifty day moving average is $8.83 and its 200-day moving average is $11.00.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.10. Goodyear Tire & Rubber had a negative net margin of 1.82% and a positive return on equity of 6.55%. The firm had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the business earned ($0.34) EPS. The company’s revenue was down 6.1% compared to the same quarter last year. Sell-side analysts predict that The Goodyear Tire & Rubber Company will post 1.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GT. Morgan Stanley began coverage on Goodyear Tire & Rubber in a research note on Thursday, June 13th. They issued an “equal weight” rating and a $14.00 price objective on the stock. Wolfe Research lowered Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 5th. Finally, StockNews.com lowered Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.23.

Goodyear Tire & Rubber Profile

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands.